Ribbon expands to Arkansas, allowing homebuyers to upgrade their offers to All Cash
Homeownership business aimed at making homeownership achievable for small stone home buyers; Crye-Leike will be the first state partner
NEW YORK, May 23, 2022 /PRNewswire/ — Ribbonhomeownership company, today announces its expansion to Arkansas starting with small stone. With ribbon, Arkansas homebuyers can now make cash offers through Ribbon’s Cash Offers, waiving mortgage, appraisal and home sale contingencies.
For many, buying a home is part of the American dream. However, a combination of low inventory, bidding wars, Wall Street investors and rising rents are preventing buyers from buying or saving for a home, sometimes thwarting their dreams of home ownership. property.
Buyers in Arkansas felt the same. Despite a 30.2% increase in new listings over last year, there were 24.6% fewer homes for sale in February in Arkansas than the previous year, and the median number of days a home was on the market was cut nearly in half, from 58 days to 30 days year-over-year. Housing trends in small stone follow state and national trends. Across the country, house prices rose 15.2%while the number of homes available for sale decreased by 33.2% in December 2021 compared to the previous year.
“The rapid pace of homes being sold in Arkansas indicates the tough competition buyers face, led by Wall Street investors and high net worth individuals with all-cash offers. Having access to cash offers via RibbonCash will allow Arkansas home buyers to compete on a level playing field with institutional investors,” said Shaival ShahCEO and co-founder of Ribbon.
“Ribbon’s mission is to help meet these challenges, and through the power of our cash offerings, we are leveling the playing field for Arkansas homebuyers and their agents.”
Arkansas is also home to five US military bases, including the small stone Air Force Base. In 2021, 12,396 Arkansas veterans applied for a home loan, up from 5,525 in 2019according to Veterans Home Loans. Veteran homebuyers often face unique challenges as sacrosanct VA loans can face headwinds given the misperceptions, the length of the process and the increase in cash offers and investor activity. With Ribbon as their defender, veterans can win their dream home.
With RibbonCash Offers, buyers can make a cash offer on their dream home: waiver of contingencies related to the mortgage, appraisal and sale of the home. Ribbon’s guaranteed close gives buyers, sellers and agents increased predictability.
Ribbon and Crye-Leike are teaming up to empower homebuyers to Arkansas
To provide as many potential buyers as possible with a competitive advantage from day one, Ribbon’s first launch partner in Arkansas will be Crye-Leike, ranked third among independent real estate companies in the country. With RibbonCash, Crye-Leike agents will have a powerful tool to help everyday buyers compete, even in the most competitive market conditions, face-to-face with investors.
“We are delighted for our agents and our buyers in small stonebecause leveraging Ribbon will allow them to be more successful with their offerings,” said Angie Johnsonmanaging broker of Crye-Leike in Benton, Arkansas. “By making offers not contingent on appraisal and cash equivalent, they can compete with investors. This is a win for the buyer, the seller and our agents who are showing fewer homes to get an offer. accepted.”
In addition to ArkansasRibbon works in North Carolina, Caroline from the south, Texas, Tennessee, Georgia, Florida, Alabama, Missouri, Oklahoma, Virginia and Indianawith plans to expand to half the United States by the end of 2022. For more information on Ribbon, visit www.ribbonhome.com.
About the Ribbon:
Founded in 2017 at New York and Charlotte, Ribbon is on a mission to make home ownership achievable. As a technology-driven homeownership company, Ribbon enables ordinary families to compete on equal footing with high net worth individuals and institutional buyers by upgrading their offers to winning RibbonCash offers. Ribbon enables agents, brokers and lenders to create a world-class experience for home buyers and sellers through powerful financial products and digital workflow software. To visit ribbonhome.com.
Crye-Leike is a full-service real estate company founded in Memphis in 1977. Today, it is ranked the third largest independent real estate company in the nation and the largest real estate company serving the markets of Tennessee, Arkansas, Georgia, Mississippi and the Middle South. Crye-Leike has a network of more than 3,200 licensed business associates, more than 600 staff members, and more than 130 branches and franchises located in an eight-state region. Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, Oklahomaand Tennessee. Crye-Leike also owns a franchise at Porto Rico.
GtM Communications Manager, Ribbon
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